Re: Living Trust
- From: "Razorback" <razorback9926@xxxxxxxxxxx>
- Date: 31 May 2006 10:50:08 -0700
A living trust is not a public document, so you cannot learn what is in the trust or
review it. The trustee has control over the trust, so if the adult children are the
trustees, you have nothing to worry about from the husband.
If the adult children really are the trustees, they would be entitled
to a copy of the actual trust document. That's why I believe the
children are only successor trustees.
If the husband is the trustee, he can dispose of trust assets at his will. However,
generally, he has a duty to the beneficiaries not to "waste" trust assets.
While this is true of most trusts, it is generally not true of living
trusts. Most living trusts have boilerplate language saying the trustee
is free to treat property in the trust as if he is the absolute owner
of the property.
I hope for the sake of the children from the mother's previous
marriage, that the mother did not leave everything to her second spouse.
.
- References:
- Living Trust
- From: mcraecb@xxxxxxx
- Living Trust
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